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The Strategic Planning Process: A Mixed Methods Examination Of The Process As An Antidote To Promote Sustainability And Prevent The Extinction Of Startup Nonprofits, Charrisse Somme

Doctor of Education Dissertations

The nonprofit sector plays an intricate role in today’s economy and communities nationwide. Nonprofits employ over 12 million people in the United States and provide over $800 million in salaries and benefits, which equates to adding $1 trillion to the national economy. These contributions affirm the necessity for nonprofit existence. There is a sense of urgency to address this problem, as nonprofit dissolution has been increasing steadily since the pandemic began and spiked 30% during January 2022 compared to January 2021 (Delaney & O’Leary, 2022). “While competition amongst and the resulting exit of for-profit businesses have been studied, the exit …

Performance Of Gender Diversity On Board Of Directors: The Case Of Indonesia, Juniarti, Ferry Jie

Research outputs 2022 to 2026

This study further explores women’s role in top management in Indonesia, where men still dominate that position. This study underlines the role of women’s boards of commissioners in producing better financial performance in the specific sectors, manufacturing and service sectors, where the power of women to lead these sectors is more optimal. The sample is selected from the Indonesia Stock Exchange for the period 2009–2018. The final sample is 780 observations. This study applies panel data, which is more robust when controlling heterogeneity. Data panel regression is applied to analyze data. This study finds that gender diversity harms market-based performance, …

Welch Appointed Editor Of Byu Studies

Insights: The Newsletter of the Neal A. Maxwell Institute for Religious Scholarship

John W. Welch, founding president and continuing member of the board of directors of F .A.R.M.S., has been appointed editor-in-chief of the 32-year-old BYU Studies.

Toward An Enhanced Level Of Corporate Governance: Tech Committees As A Game Changer For The Board Of Directors, Maria Lillà Montagnani, Maria Lucia Passador

The Journal of Business, Entrepreneurship & the Law

Although tech committees are increasingly being included in the functioning of the board of directors, a gap exists in the current literature on board committees, as it tends to focus on traditional board committees, such as nominating, auditing or remuneration ones. Therefore, this article performs an empirical analysis of tech committees adopted by North American and European listed companies in 2019 in terms of their composition, characteristics and functions. The aim of the study is to understand what “technology” really stands for in the “tech committees” label within the board, or – to phrase it differently – to ascertain what …

Toward A Synthesis Of The Board-Strategy Relationship: A Literature Review And Future Research Agenda, Pieter-Jan Bezemer, Amedeo Pugliese, Gavin Nicholson, Alessandro Zattoni

Research outputs 2022 to 2026

Research Question/Issue

The strategy role of the board of directors is a contentious topic in both theory and practice and the debate on what boards should or should not do around firm strategy has intensified with changes in global corporate governance. Boards face interventionist regulatory developments, calls for changes in their composition, growing owner engagement, and societal questioning on the corporation's very purpose. With this review, we aim to assess how the research agenda in this area has evolved with these developments.

Research Findings/Results

Our analysis of 152 articles published in 45 high-quality journals between 2008 and 2020 reveals that …

Legal Controls Of The Authority Of The Target Company's Board Of Directors In Responding To A Hostile Takeover: A Comparative Study Under Emirati And American Laws, Alaa Yakoob Yousif Dr.

مجلة جامعة الإمارات للبحوث القانونية UAEU LAW JOURNAL

Takeover in general is achieved by acquiring an effective percentage of shares of company, ensuring control to the acquirer, if takeover does not receive the approval of the board of directors of the target company, it is described as a hostile takeover. The latter is not necessarily detrimental to the company's interest, as it can benefit the company by changing its strategy and replacing its management with another efficient and active one, resulting in the optimal exploitation of its resources. In other cases, it may be detrimental to the interests of the company, that the acquirer plans are not commensurate …

Yung Kee: A Roast Goose Chase, Singapore Management University

Perspectives@SMU

How a Hong Kong culinary landmark emerged stronger following a bitter family feud over succession disputes

Exiting The Pandemic: A Leadership Approach To Critical Engagement And Change, J Kevin Fisher, Joan Seamster

The Vermont Connection

Navigating in uncertain times is an understatement for leaders in higher education. There is no playbook for today’s institutional challenges. Student needs, administrative requirements, faculty demands, and community relations all warrant to fresh look into how institutions address the risks that threaten business as usual. COVID-19 has challenged the status quo – shaking established methods of conducting and promoting higher education to its core. Do the higher education community and all it constitutes realize it? Will leadership in higher education take the necessary steps to bring all stakeholders together to shape the path to the future? To answer these questions, …

Joint Board-Management Meetings And Firm Performance, Dian Agustia, Iman Harymawan, John Nowland

Australasian Accounting, Business and Finance Journal

Are joint meetings between boards of directors and top management teams associated with better decision making or higher agency costs? We examine formally scheduled joint board-management meetings as a channel for closer interaction between boards of directors and top management teams. Using publicly disclosed data from Indonesian firms, we find that about half of our sample firms hold joint board-management meetings and more meetings are associated with higher firm performance. This suggests that the benefits from information sharing at joint meetings are greater than the agency costs. This relationship is most significant when companies hold 10-12 joint board-management meetings per …

Community Representation Among Nonprofit Leadership: Why Should The Board Reflect Those Whom It Serves?, William N. Derwin

Master's Projects and Capstones

Nonprofits, as vehicles for the delivery of essential community services, are integral to the health and prosperity of their communities. But many nonprofit leaders do not represent or adequately understand the community members whom their organizations serve. This study, through a literature review and a qualitative analysis of several expert interviews, evaluates the significance of community representation among nonprofit leadership, the best practices for improving community representation, and the relationship between a nonprofit’s community ties and the outcomes of its grant applications. As the results of the study indicate, it is essential for nonprofit leaders to understand their communities; any …

Non-Profit Organizations Should Prioritize Governance In Board Selection Decisions—Those That Prioritize Money May Pay Too Much, Heidi Grunwald, Daniel Isaacs

Fordham Journal of Corporate & Financial Law

Non-profit corporations must comply with federal tax laws, and their governing bodies must satisfy corporation law-based duties, but they are not subject to the regulatory requirements of publicly traded corporations. This discrepancy should be troubling, because the stakeholders of non-profit organizations are far more vulnerable than the typical investor. Accordingly, non-profit boards have a particularly strong need for good governance. However, our research shows that non-profit board members believe that board selection procedures prioritize giving over the ability to attract and retain members with attributes commonly associated with good governance. To address this problem, we argue that laws should require …

In Re The Walt Disney Co. Derivative Litigation Rewritten, Hillary A. Sale

Georgetown Law Faculty Publications and Other Works

In re The Walt Disney Co. Derivative Litigation is notable for upholding the broad latitude courts afford to boards through the business judgment rule. The case addressed a $130 million termination package delivered to former Disney CEO, Michael Ovitz, after fourteen months of underperformance at the company. This rewritten opinion, to be published in “Feminist Judgements: Rewritten Corporate Law,” (Kelli Alces Williams, Anne Choike, & Usha R. Rodrigues, eds.) (Cambridge Univ. Press, forthcoming 2022), follows the style of the Delaware Supreme Court and reaches the same outcome with a different approach. The opinion expounds on the corporate governance practices in …

Securities Law: Overview And Contemporary Issues, Neal Newman, Lawrence J. Trautman

Faculty Scholarship

This is not your grandfather’s SEC anymore. Rapid technological change has resulted in novel regulatory issues and challenges, as law and policy struggles to keep pace. The U.S. Securities and Exchange Commission (SEC) reports that “the U.S. capital markets are the deepest, most dynamic, and most liquid in the world. They also have evolved to become increasingly fast and extraordinarily complex. It is our job to be responsive and innovative in the face of significant market developments and trends.” With global markets increasingly interdependent and interconnected and, “as technological advancements and commercial developments have changed how our securities markets operate, …

Corporate Social Responsibility And Financial Performance: Does Board Diversity Matter?, Ozgur Ozdemir, Murat Kizildag, Tarik Dogru, Ilhan Demirer

Journal of Global Business Insights

In this study, the moderating effect of board diversity on the complex relationship between corporate social responsibility (CSR) performance and financial performance is examined. The resource-based view of the firm and stakeholder theory are used as the theoretical foundation of the study. The hypotheses of the study are tested via fixed-effects regression using data for a sample of 1,234 firms and 5,102 firm-year observations for the period 2009–2013. The study finds evidence that CSR performance and financial performance are positively related, and the magnitude of this relationship is contingent on the level of board diversity. As corporate boardrooms become more …

Effects Of Board Design And Managerial Ownership On The Level Of Cash Holdings In Latin American Firms, Pengyu Qian

Culminating Projects in Economics

This paper analyzes the level of cash holdings and the role of corporate governance in monitoring the potential agency problem. This research studies the relationship between cash holdings, the Board of directors' design, and managerial ownership levels in Latin America's public traded companies in Argentina, Brazil, Chile, Colombia, Mexico, and Peru. I find a positive and statistically significant effect of board size and institutional ownership on cash holdings. I also find a negative and significant correlation between board duality and cash holdings. The results show that board independence is positively and statistically significantly associated with cash holdings when controlling for …

The Old Boys Club In New Zealand Listed Companies, Chen Chen, David K. Ding, William R. Wilson

Research Collection Lee Kong Chian School Of Business

The board of directors plays an important role in implementing corporate governance in the firm, as directors have a fiduciary duty to the firm’s shareholders. The effectiveness of directors is a key determinant of corporate value and they need to bring a range of skills and experience to the boardroom. This skill and experience cannot be developed solely within the firm, and most boards incorporate non-executive directors who are or have been directors of other firms. Current research on the benefits of interlocking directorships is mixed between the claim that they bring outside feedback to the table and open decision …

Independent Directors' Dissensions And Firm Value, Wonseok Choi, Monika K. Rabarison, Bin Wang

Finance Faculty Research and Publications

Using a novel dataset of independent directors’ voting activities on items proposed by managers of Korean firms, we investigate whether independent directors’ dissension in board meetings plays an effective role in enhancing firm value through improved corporate governance. Our results indicate that dissension improves firm value. This finding is robust to different measures of firm value and alternative model specifications including subsample, propensity score matching, and instrumental variable analyses. Overall, we contribute to the understanding of the relation between corporate governance and firm value. Specifically, we provide new evidence that the monitoring by independent directors enhances firm value.

The Financial Impact Of Gender Diversity On Corporate Boards, Elizabeth Hamilton

Undergraduate Theses

The purpose of this study is to investigate the relationship between gender diversity and firm financial performance, using a data set of 50 S&P 500 companies during 2015-2019. Gender diversity was measured through the percentage of women on the board and whether the board has a “critical mass” (of at least three women). In the results of the regression analyses, some significant relationships between variables were found. The regression between ROA and the percentage of women indicated a positive, significant relationship for ROA to the percentage of women. For the regression between ROA and the critical mass variable, no significant …

Does Female Leadership Impact Firm Financial Performance?, Emersyn Alberici

2021 Honors Economics Posters

Women make up 47.0% of the labor force and 50.8% of the United States population, but only 40% of managers, as of 2019. In recent years, more and more women are taking on leadership positions, provoking widespread speculation and debate on the impact a female CEO would have on the financial success of a firm. The data is hand collected from various sources, including LinkedIn, Bloomberg Profiles, and Yahoo Finance; compiled into one dataset from 1978 to 2021. Companies included are different Fortune 500, Fortune 1000, and S&P 500 companies transitioning from a male CEO to a female CEO. This …

Ceo Gender-Based Termination Concerns: Evidence From Initial Severance Agreements, Felice B. Klein, Pierre Chaigneau, Cynthia E. Devers

Management Faculty Publications and Presentations

We theorize that female candidates considering CEO roles will perceive greater termination vulnerability in such roles than their male counterparts. We further theorize that indicators of recent organizational distress will exacerbate female CEO candidates’ perceptions of termination vulnerability, while the presence of female leaders will mitigate these concerns. To test our arguments, we examine the initial values of newly appointed female and male CEOs’ severance agreements from 2007 to 2014. Results support our arguments and begin to shed light on the factors that influence female executives’ concerns about CEO roles and ultimately firms’ ability to appoint female CEOs.

Too Unsafe To Monitor? How Board-Ceo Cognitive Conflict And Chair Leadership Shape Outside Director Monitoring, Dennis B. Veltrop, Pieter-Jan Bezemer, Gavin Nicholson, Amedeo Pugliese

Research outputs 2014 to 2021

Research into boards of directors has provided mixed support for the view that outside directors' independence or leadership by an independent chair improves monitoring. In this study, we use a micro-level approach to provide a better understanding of why outside directors have difficulty in monitoring the CEO. We highlight that an important reason for this lies in the boardroom dynamics associated with (a) outside directors' cognitive conflict with the CEO and (b) the chair's leadership of the board. Our inductive analyses of video observations of board meetings in five Australian corporations revealed the importance of chair participative leadership during disagreement …

Women In A Dual Board System And Dividend Policy, Tastaftiyan Rifandy, Timotius Radika, Leo Indra Wardhana

Bulletin of Monetary Economics and Banking

We investigate whether firms with the presence of female on its board of commissioners and board of directors are associated with higher dividend policy. This paper uses Indonesian setting as a country with a dual board system implying that the role of board of commissioners and board of directors is explicitly separated. Using panel data on 525 publicly listed firms in Indonesia between 2011 and 2018, we find that the women's presence has different impacts on the dividend policy depending on their role as an executive or non-executive on the board. Female directors are negatively associated with cash dividend payments, …

Gender Faultline Strength On Boards Of Directors And Strategic Change: The Role Of Environmental Conditions, Jie Wu, María Del Carmen Triana, Orlando C. Richard, Luman Yu

Management Faculty Publication Series

Drawing on the notion of “faultlines” and the upper echelons perspective, we argue that the gender faultline strength of a board of directors is negatively related to strategic change. More interestingly, while gender faultline strength negatively relates to strategic change under low levels of environmental complexity, environmental dynamism, and environmental munificence, it is positively related to strategic change when environmental complexity, environmental dynamism, and environmental munificence are at high levels. The analyses of panel data of 5781 firm-year observations of 1171 Chinese firms provide support for the hypotheses.

Board Of Director Composition: An Examination Of How Director Age And Board Innovation Committees Impact Corporate Social And Financial Performance, Sami Ghaddar

2021

This dissertation explores how director age affects a firm’s social domain, and how board-level oversight of firms’ innovation activities affects financial performance. Specifically, the dissertation points to board configurations that can potentially improve social and financial performance. The first chapter reviews the literature by examining two research streams linking board composition to corporate social performance (CSP) and innovation. The chapter presents the theoretical and empirical underpinnings of these two streams. It details the descriptive and thematic findings and offers an understanding of the different contexts in which board composition relates to both CSP and innovation. This chapter also discusses inconsistencies …

Social And Human Capital Contributions Of Diverse Board Members, Sharifa Ife Batts

Theses and Dissertations

While most firms serve a diverse population, many have no minorities or women serving as Members on their board. Boards are disadvantaged when their composition fails to align with Their employee population or the stakeholder groups they serve; they are neglecting the Contributions of women and minorities as their voices are unheard. The purpose of this multiple Case comparison study builds on current boardroom diversity and board effectiveness research by Exploring how the unique human and social capital contributions of women and minority board Members increase the boards’ capabilities and impact board governance. I qualitatively examined Six boards of varied …

An Attention-Based View Of Strategic Human Resource Management, Soo-Hoon Lee

Management Faculty Publications

In spite of the designation, research in strategic human resource management (SHRM) has largely focused on tactical rather than strategic issues. These studies have attempted to explain whether firm performance is associated with “best-practice” or “best-fit” human resource management (HRM) practices. The focus on internally consistent (horizontal fit) HRM practices is better characterized as tactical implementation than as strategic formulation. In the latter, HRM leads rather than follows the firm’s long-term responses to shifts in the firm’s competitive and market environment. In this paper, I propose an attention-based view of the firm to reframe SHRM research and policy to support …

Cooperatives And The Question Of Democracy, Mark J. Kaswan

Political Science Faculty Publications and Presentations

Democracy is generally considered to be a core element of cooperatives. However, other than elected boards of directors, it appears to play little part in either the governance or operations of most cooperatives. Two challenges to democracy are identified. One is the idea that cooperatives will tend to lose their democratic character over time. The other is that many cooperatives are founded primarily for economic reasons, and democracy is a second-order concern. The paper explores the question of how important democracy is to cooperatives, identifying warning signs and encouraging cooperatives to take a more active approach to promote participation. Democracy …

Board Demography And Divestitures: The Impact Of Gender And Racial Diversity On Divestiture Rate And Divestiture Returns, Kalin Kolev, Gerry Mcnamara

Management Faculty Research and Publications

Drawing on resource dependence theory and group diversity research, this paper examines how board gender and racial diversity impact corporate divestitures. We argue that due to the diverse experiences, knowledge, and perspectives that female and racial minority directors bring to the boardroom, it is more difficult and time-consuming for the board to reach a consensus and pursue a common course of action. Consistent with this argument, our results indicate that board gender and racial diversity lead to longer divestiture completion times and a lower divestiture rate. Additionally, we argue that due to their cognitive heterogeneity, diverse boards likely exchange a …

Renegotiation Of Joint Venture Contracts: The Influence Of Boards Of Directors And Prior Ties As Alternative Governance Mechanisms, Valérie Duplat, Elko Klijn, Jeffrey Reuer, Henri Dekker

Management Faculty Publications

Research on alliance governance has pointed out that joint ventures (JVs) are particularly complex forms of collaboration. Partnering firms therefore often face difficulties in anticipating contingencies and collaborative behaviors at the contract negotiation stage. When initial JV contracts are incomplete, renegotiation represents a key strategic opportunity for enhancing contractual safeguards or coordination guidelines over the course of the joint venture. Costs and risks entailed by renegotiating JV arrangements at a later stage are far from trivial, however. Existing research on alliances suggests that practitioners have alternative relational and formal governance solutions at their disposal for handling possible inefficiencies caused by …

Directors’ Duties Of Financially Distressed Companies In The Time Of Covid-19, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

Unlike other jurisdictions around the world, several European countries require corporate directors to file for bankruptcy once a company becomes insolvent. For instance, under German law, corporate directors are required to file for bankruptcy within three weeks since they know, or ought to have known, that the company became insolvent on a balance-sheet or a cash-flow basis. Failure to comply with this duty may expose the directors to both civil and criminal liability. In Spain, a similar duty is imposed. However, instead of exposing directors to criminal liability, they can be subject to other sanctions (including disqualification and liability for …